Dedicated to Deposits: Deals, Data, and Discussion
Easthampton Savings Bank0.70%$1k-36 Month CD
Easthampton Savings Bank0.50%$1k-9 Month CD
Accounts mentioned in this post. Rates as of August 21, 2014

Top 9-Month CD Rate Available Nationwide at Easthampton Savings Bank


Easthampton Savings Bank

If you're looking for CDs with maturities under 1-year, you might be in for a shock when you compare rates. Interest rates are very low these days for short-term CDs. The best 9-month CD that I've found that's available nationwide is at Easthampton Savings Bank which is offering a 1.35% APY.  The only other competitive CD rate listed is a 2.00% APY 3-year CD. Minimum deposit is $1,000. These rates are listed in the bank's deposit rates page as of 10/24/2010.

As a comparison, this is 10 basis points higher than the second best nationwide 9-month CD yield, 1.25% APY at One West Bank.

East Hampton Savings Bank is based in Massachusetts, but the CD can be opened online. Through the online chat, I was told by the bank's CSR that the CD can be opened by people in any state. In the online application, you can fund the CD with an ACH transfer. Once the funding is done, you will recieve a welcome package from the bank. You have 5 days once you start the application to fund the CD to make it active. Rates can change at any time, but they are typically updated on Thursdays.

At maturity, there's a 10-day grace period. If you want to close the CD, they require a written letter. They can send you a check or they can do a wire transfer ($20 fee). Banks often make it easy to open a CD with an online application, but they don't always make it easy to close the CD and receive the funds. That seems to be the case with this bank.

The bank's overall health score at is 4 out of 5 with a Texas Ratio of 3.93% (excellent) based on 6/30/2010 data. Please refer to our financial overview of Easthampton Savings Bank for more details. The bank has been a FDIC member since 1985 (FDIC Certificate # 90188).

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  Tags: Easthampton Savings Bank, Massachusetts, CD rates

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Comment #1 by James Fillion (anonymous) posted on
James Fillion
This is a very interesting post about Easthampton savings bank's cds.  Believe it or not, but I have never inquired about a cd in my life. I just graduated college and I am starting to put my priorities first. My first prioirty is to start making preperations to insure my financial stability. I am going to take a closer look into taking out a cd. 

I just read the forum thread on mortgages and easthampton savings bank, and was informed on my options. I also noticed that a couple of these mortgage companies are changing and adapting to the mortgage crisis problems. I saw a change in policies and name from american home mortgage servicing. Do you think that other banks and lenders will start adapting to the crisis? Thanks for sharing.